Neha Dhamija
UTI AMC is looking for a strategic partner and is ready to offer up to 26% of stake. Each of the four promoters of the firm, LIC, Punjab National Bank, State bank of India and Bank of Baroda has readied to divest 6.5% of holdings.
Also, the company has decided to postpone its IPO plans, owing to the sluggish stock market scene.
The information came from the company’s Chief marketing officer, Jaideep Bhattacharya. He also detailed that the management is in talks with a few parties, thought worth it.
On being asked the names of the companies, he said that it would be premature to disclose any information in this regard. He gave a similar response, when enquired on the amount that is being planned to be raised via the IPO route.
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